Job Description
The F&O House team specifically supports exchange traded business conducted through JPMorgan's lines of business (Rates, Equities, Commodities, GEM). House Operations are currently based in 3 locations globally, in Bangalore, Bournemouth and Buenos Aires. This global team provides critical support for 120 desks across all businesses, and supports around 80,000 trades daily, with Bournemouth focused primarily on the Commodities and EMEA Rates business alongside a small of Equity Derivatives activity.
The F&O House team based in Bournemouth are responsible for reconciling traders’ position and risk for exchange traded instruments in their risk management system versus GMI, the F&O brokerage back end system. This is done through reconciling the entire structure, from instrument setup, trade booking and daily overall position, as well as ensuring the profit and loss (P&L) for the risk system equals the P&L held in GMI. This is completed in the system Union II. Break investigation and resolution is reached through liaison with middle offices, product controllers and technology teams.
Other core functions include the settlement of daily variation margin and initial margin, funding and Nostro reconciliation, new account set up and Give up agreement management. The team is also involved in new product onboarding, system enhancement planning, UAT support, and regular SOX / PWC testing.
The area is constantly evolving and scope is expanding due to various regulatory changes, consequently, there are numerous opportunities for the right candidate to be involved in ad-hoc projects and the House Strategic Agenda.
Summary of Responsibilities
- Ensure timely completion of Trade, Position and P&L reconciliations, with prompt delivery of reconciliation details to the relevant middle offices, Product controllers and brokers.
- Work closely with key stakeholders to manage and coordinate all new product, entity, trading book and desk set ups.